Mentorship, capacity building and enterprise development are the focus of an agreement between the Development Bank of Namibia (DBN) and the non-governmental organisation One Economy Foundation (One).
The two entities have signed a comprehensive partnership agreement with the aim of driving sustainable economic growth, youth empowerment, and community development in Namibia.
The five-year agreement was signed on Wednesday.
“The partnership will formalise a strategic framework of cooperation that covers a wide range of issues,” a joint press release reads.
Both organisations are committed to promoting equality and creating socio-economic opportunities for under-represented groups, with a particular focus on youth, women and rural entrepreneurs, according to the press release.
“Together, we are holding hands to provide invaluable resources to empower young people, equipping them with the skills and opportunities they need to thrive in today’s competitive environment,” One chief executive Uajorokisa Karuaihe says.
DBN chief executive John Steytler says One is a key player in addressing the socio-economic challenges faced by Namibia.
The partnership with One “reflects our shared values of fostering and driving inclusive growth and supporting vulnerable communities to build a prosperous Namibian house that is broad-based”, he says.
DBN and One will collaborate on offering coaching, training and internship opportunities, among other things.
These opportunities will be offered by DBN to participants of One programmes, such as as the #BeFree Youth Campus.
The campus, located in Windhoek’s Katutura neighbourhood, was launched by One in September 2023, with the aim of providing an urban catalyst institutionalising the work of One’s project #BeFree.
The initiative, championed by former first lady and One executive chairperson Monica Geingos, is aimed at enhancing young people’s access to services through the provision of programmes needed for their development.
These include psychosocial support, legal and criminal justice system guidance, sexual and reproductive health services, skills development, workshop and training facilities as well as adolescent-friendly edutainment.
As part of the new partnership, the DBN will also support One by opening up its facilities for annual community outreach initiatives, according to the press release.
A steering committee will meet regularly to ensure progress on joint initiatives and exchange valuable information to enhance their collaborative efforts.
The One Economy Foundation is a Namibian social welfare organisation founded in 2016 as a Section 21 organisation, meaning an association not for gain.
According to its website, its goal is to serve as a bridge of socio-economic opportunity between middle and high-income earners, and low-income earning persons, thus building an economy in which equality and shared prosperity thrive.
The Development Bank of Namibia is a statutory financial institution established in 2002.
Its mission involves financing projects that contribute to the economic development and sustainable growth of Namibia.
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